Most Influential: Gilles Roth

Led by Finance Minister Gilles Roth, Luxembourg in the second half of 2025 became the first of the 20-member eurozone to invest in bitcoin.

This feature is a part of CoinDesk’s Most Influential 2025 list.

Speaking before parliament in October, Roth said he had directed the allocation of 1% of the country’s €745 million ($865 million) sovereign wealth fund into bitcoin.

“By becoming the first eurozone government to invest part of its reserves in bitcoin, Luxembourg once again demonstrates its commitment to support emerging and future-oriented investment trends,” said Luxembourg for Finance, a public/private partnership chaired by Roth.

Speaking about one month later at the Bitcoin Amsterdam Conference, Roth said his country has no intention of expanding its crypto investment beyond bitcoin.

“As [Strategy Chairman] Michel Saylor once said, there is no second best,” Roth told attendees. “We are in it for the long haul.”

“Let me be clear,” he added. “Luxembourg HODLs. We are still very early. I am sure others will soon follow our lead.”